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Warner Music's loss widens on impairment charge

AudeLagorce

LONDON (MarketWatch) -- Warner Music Group
WMG, -1.41%
said its second-quarter loss widened to $68 million, or 45 cents a share, from $37 million, or 25 cents a share, in the year-earlier quarter. Results in the latest quarter included a charge of 22 cents a share related to the impairment of some investments. Excluding the charge, the company would have posted a loss of 23 cents a share. Analysts, on average, expected a loss of 24 cents a share, according to a poll conducted by FactSet Research. Revenue declined 17% to $668 million, reflecting a light release schedule and the turbulent global economy.

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